Salim Group CPO Companies SIMP, LSIP See Profit Surge in 2024

Palm oil producers PT Salim Ivomas Pratama and PT PP London Sumatra Indonesia saw a surge in profits despite headwinds posed by weather and global uncertainty.

Bisnis.com, JAKARTA — 2024 was a lucrative year for Salim Group CPO producers PT Salim Ivomas Pratama (SIMP) and PT PP London Sumatra Indonesia (LSIP), both of which saw huge leaps in net profit in 2024 thanks to the rise in palm oil prices.

SIMP’s net profit in 2024 to IDR 1.54 trillion, an increase of 110.46 percent year-on-year (YoY) from IDR 736.41 billion in 2023, despite a decline in revenue from IDR 16 trillion to IDR 15.96 trillion occurring at the same time.

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